Market Update - 1st July 2015 - 9:45 am

The market has started moving up and has shown that the fall was just
a false breakout as the Greece default was already known to the market
and it has digested it.

Now the market is hoping that the bailout plan would be signed on 5th
July and now it has started anticipating and rallying for the same.

8450-8500 is a strong resistance. If it is broken with volumes, market
can move towards 8700.

ICICI Bank Update

ICICI Bank achieved our target and even went below that.

It was one of the top loser of Nifty yesterday.

Market Update - 30th June 2015

As you can see, within one day our target was achieved and option traders have
doubled their income.

The volatility has increased and there are some positive divergence on the charts.
This means that whatever bottom is formed, it would be a great opportunity to go
aggressively long as market may bounce back very strong.

But for the time being market is still weak and market has potential to retest 8000
and maybe go below that also.

Be on short side as traders but sell only on rallies. Do not sell low, you would get
stuck and volatility would trigger stop losses.

Sell ICICI Bank

Sell ICICI Bank @ 308-310
SL 315
Target 305, 300, 295

Market View - 26th June 2015 - 11 am

Market had rallied from the point we have recommended at 7950 onwards and
made high of 8423 till now. At this level, market is facing stiff resistance and
the strength of bulls is coming down.

Yesterday our calls triggered stop loss and it clearly shows the strength of bears
at these levels.

It is better to book profits at this level and look for shorting opportunity.

Sell Nifty @ 8390-8400
SL 8450
Target 8300, 8250

Sell Bank Nifty @ 18330-18350
SL 18500
Target 18100, 17950

If market falls below this, then market may retest its previous lows or maybe
fall even below them. Keep watching the blog to get latest updates

Market Update - 24th June 2015

As you can see, the exact bottom was predicted by me on 15th June and yesterday
market has also confirmed its reversal. Now immediate resistance is at 8450-8500
which looks likely to be taken off with the strength of the bulls now.

Market could now move towards 8750-8800 in the coming days once 8500 is broken
with good volumes. Looking at the current trend, market looks to give good money
for all call buyers and put writers.

Buy 8400 call @ 30-31 with sl 22, for target of 50, 60 by tomorrow.

Market Update - After Market - 15th June

Market has taken support and is looking quite strong now.

It has also shown early signs of reversal. Now if market holds
8000 and closes above 8200 for 2 days, then market has reversed.

Option data had highest open interest at 8000 from the beginning
of the month and it seems that Put writers have shown their
confidence and are defending the level with full force.

Now as long as this holds, market for the next 2-3 days should
test 8200 and may be sustain. Now the important levels
to be watched are 8250-8280. Hopefully we should see them by
this weekend.

Now 8000 call option is trading at Rs.90/-.You can buy with
stop loss below 65 and in the next 2-3 days, we could see levels
of Rs.150-180/-

Market View - 15th June 2015 - 9:20 am

Market has taken support at important gap around 7930. Now since it is
holding, market can easily move upto 8100-8200.

You can buy for trading opportunity.

SL is @ 7920

and Target is 8100-8200

Market View - 3rd June 215

As you can see that market did give upmove and exactly at our levels of 8450
and now has broken 8300 levels and it now opens up levels of 8150, 8050 and
may be even below 8000 in the coming days.

Trend is clearly down and now market may become more choppy and hence
do not be brave and buy. Let market settle down.